2026-10-22 · 1 statements · 1 actors
PRA and FCA consultations on Senior Managers and Certification Regime, Oct 2026
The PRA and FCA proposed simplifying the SM&CR, with consultations closing on 22 January.
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United Kingdom
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Regulators unveil plans to simplify Senior Manager and Certification Regime
2026-10-22 · central bank
The PRA and FCA say their proposals would significantly streamline the SM&CR by removing regulator pre-approval for a range of roles and removing the Certification Regime, with savings of around £2 billion over ten years, while keeping individual accountability and conduct standards unchanged. The consultations close on 22 January and policy is expected to follow in 2027.